News Flash- CIBC to Invest $37 Million In Corporate Governance

Canadian Imperial Bank of Commerce announced last Monday that it would pour $37 million to reform and educate employees on corporate governance. The funding is, in part, forced by a December settlement with federal regulators stemming from its links to the blown-up accounting practices at Enron.

The company said beside a new mandate that all 37,000 company employees be trained on global reputation and legal risk, a new hotline will be set up in order for the workers to call in with ethics-related questions.